BBA has responded to FSB’s consultation on effective resolution of Systemically Important Financial Institutions (SIFIs). It welcomes FSB’s initiative, and stresses that regulators in different jurisdictions must work together properly and apply tools consistently. But it says the powers of regulators of branches of third country firms should not be so great as to undermine the lead regulator. It also says firms should have incentives to establish good recovery and resolution plans. (Source: BBA Response to FSB Consultation on SIFIs)